Indonesia c.bank intervenes to defend rupiah-traders

Tue Nov 3, 2009 10:56pm EST
 
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SINGAPORE, Nov 4 (Reuters) - Indonesia's central bank intervened Wednesday to support the weakening rupiah at 9,600 per dollar, traders said.

The high-yielding rupiah IDR= fell to 9,610 briefly before pulling back to 9,580 as traders detected dollar selling by the central bank.

"The tone is still profit-taking from offshore. But the dollar's upside is capped by the central bank," said a trader in Jakarta.

A Singapore-based trader said: "We hear they were selling (dollars) in very small amount around 9,600 spot level."

"I think everyone is waiting for the central bank meeting later in the day and NDFs are very rangy," added the trader. (Reporting by Kevin Yao)

 

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